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New vax tech drives fund-raising surge

Cash-hungry biotech companies have been headed back to the market recently as investors' appetite for biotech stocks was whetted by Big Pharma's high-profile pursuit of new therapies and the bright spotlight now focused on new vaccine technologies. Fund-raising has spiked 36 percent so far this year, says Thomson Reuters, with 39 debt offerings delivering $5.7 billion to an industry that has been starving for fresh capital. Report